Economy in Waterloo, IA

Waterloo, IA is a city located in the northeastern region of Iowa. It is known for its charming atmosphere and low cost of living. The city offers numerous job opportunities with well-known companies such as John Deere, Black Hawk Financial Services, and Cedar Valley Hospital & Clinics. On average, rent for a two-bedroom apartment is around $940 a month – almost $500 less than the US average for two bedrooms. The grocery cost index in Waterloo is 93 compared to 100 in the US – making it 7% cheaper than the national average. With these affordable prices, Waterloo is an excellent place to settle down and start a family or business.

Waterloo has an unemployment rate of 5.6%. The US average is 6.0%.

Waterloo has seen the job market increase by 0.3% over the last year. Future job growth over the next ten years is predicted to be 19.9%, which is lower than the US average of 33.5%.

Tax Rates for Waterloo
- The Sales Tax Rate for Waterloo is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Waterloo is 9.0%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.

Income and Salaries for Waterloo
- The average income of a Waterloo resident is $22,628 a year. The US average is $28,555 a year.
- The Median household income of a Waterloo resident is $49,430 a year. The US average is $69,021 a year.